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Contracts and Inequity Aversion
Englmaier, Florian; Wambach, Achim - 2002
Using the concept of Inequity Aversion we derive in a Moral Hazard setting several results which differ from conventional contract theory. Our three key insights are: First, inequity aversion plays a crucial role in the design of optimal contracts. Second, there is a strong tendency towards...
Persistent link: https://www.econbiz.de/10010315721
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Contracts, fairness, and incentives
Fehr, Ernst; Klein, Alexander; Schmidt, Klaus M. - 2004
actors provide powerful incentives and become superior when there are some fair-minded players. The principals understand … enforcement power of explicit and implicit incentives. This contract preference is associated with the fact that explicit … incentives weaken the enforcement power of implicit bonus incentives significantly. Our results are largely consistent with …
Persistent link: https://www.econbiz.de/10010261212
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Why Isn't Uber Worker-Managed? A Model of Digital Platform Cooperatives
Belloc, Filippo - 2019
Thanks to algorithmic management, the digital platform sector does not require sophisticated governance structures and labour intensity tends to be higher than in traditional sectors. So, why aren’t usually digital labour platforms worker cooperatives? We develop a simple model to study the...
Persistent link: https://www.econbiz.de/10012052814
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Labor in the Boardroom
Jäger, Simon; Schoefer, Benjamin; Heining, Jörg - 2019
We estimate the effects of a mandate allocating a third of corporate board seats to workers (shared governance). We study a reform in Germany that abruptly abolished this mandate for certain firms incorporated after August 1994 but locked it in for the older cohorts. In sharp contrast to the...
Persistent link: https://www.econbiz.de/10012179779
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Do Employees Benefit from Worker Representation on Corporate Boards?
Blandhol, Christine; Mogstad, Magne; Nilsson, Peter; … - 2020
Do employees benefit from worker representation on corporate boards? Economists and policymakers are keenly interested in this question – especially lately, as worker representation is widely promoted as an important way to ensure the interests and views of the workers. To investigate this...
Persistent link: https://www.econbiz.de/10012425700
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Why Isn't Uber Worker-Managed? A Model of Digital Platform Cooperatives
Belloc, Filippo - 2019
Thanks to algorithmic management, the digital platform sector does not require sophisticated governance structures and labour intensity tends to be higher than in traditional sectors. So, why aren’t usually digital labour platforms worker cooperatives? We develop a simple model to study...
Persistent link: https://www.econbiz.de/10012866809
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Labor in the Boardroom
Jäger, Simon - 2019
We estimate the effects of a mandate allocating a third of corporate board seats to workers (shared governance). We study a reform in Germany that abruptly abolished this mandate for certain firms incorporated after August 1994 but locked it in for the older cohorts. In sharp contrast to the...
Persistent link: https://www.econbiz.de/10012857903
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Do Employees Benefit from Worker Representation on Corporate Boards?
Blandhol, Christine; Mogstad, Magne; Nilsson, Peter; … - 2021
Do employees benefit from worker representation on corporate boards? Economists and policymakers are keenly interested in this question – especially lately, as worker representation is widely promoted as an important way to ensure the interests and views of the workers. To investigate this...
Persistent link: https://www.econbiz.de/10013314747
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Slow to Hire, Quick to Fire: Employment Dynamics with Asymmetric Responses to News
Ilut, Cosmin; Kehrig, Matthias; Schneider, Martin - 2017
Concave hiring rules imply that firms respond more to bad shocks than to good shocks. They provide a unified explanation for several seemingly unrelated facts about employment growth in macro and micro data. In particular, they generate countercyclical movement in both aggregate conditional...
Persistent link: https://www.econbiz.de/10011657135
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The Risk of Policy Tipping and Stranded Carbon Assets
van der Ploeg, Rick; Rezai, Armon - 2019
If global warming is to stay below 2°C, there are four risks of assets stranding. First, substantial fossil fuel reserves will be stranded at the end of the fossil era. Second, this will be true for exploration capital too. Third, unanticipated changes in present or expected future climate...
Persistent link: https://www.econbiz.de/10012052875